The cheap ceramic caps are a little different story.
Ceramic vs paper in oil caps.
Briefly a capacitor in the context of musical electronics consists of two plates of conducting metal separated by an insulating layer called a dielectric for example if you took two rolls of aluminum foil and unrolled them sandwiching a layer of paper between that would make a capacitor.
They still have the kraft paper in oil construction like the vintage russians but these are hermetically sealed metal tubes with glass ends so the value will not drift over time.
Paper in oil or pio caps are just one variety of capacitor.
A cap lets the tone control roll off the treble response progressively warming the tone.
Truth be told i don t like one more than the other because i can t tell a difference.
Others are made out of mylar ceramic etc.
Pio caps were used in the les pauls of the 50 s and many appreciate their tonal qualities over more modern capacitors.
Did i just buy some magic beans or the brooklyn bridge.
The bumble bee caps were later replaced by the black beauties which contained a winding of aluminum foil and paper film along with oil and were printed with the specs.
Capacitors are energy storage devices that filter the high frequencies.
But for that moron to steal my cap and replace it and for me to never notice must mean that the difference is negligible at best.